Force Motors advanced 1.78% to Rs 1,032.95 after the firm announced its monthly business update during market hours today, 5 December 2019.
The auto company's production rose 9.17% to 1,786 units in November 2019 from 1,636 units in October 2019. Domestic sales dropped 9.24% to 1,936 units in November 2019 from 2,133 units in October 2019. The firm exported 176 units in November 2019, higher than 93 units in October 2019.
On a year-on-year basis, the company's production tumbled 12.54% in November 2019 over November 2018. Domestic sales rose 31.08% in the said period. The firm exported 176 units in November 2019 as against 12 units in November 2018.
Shares of Force Motors rose 2.16% in two trading sessions to its current market price of Rs 1,032.95 from its recent closing low of Rs 1,011.05 on Tuesday, 3 December 2019.
Meanwhile, the S&P BSE Sensex was up 12 points or 0.03% to 40,861.92.
In the past one month, shares of Force Motors jumped 9.82% to its current market price of Rs 1,032.95, outperforming the Nifty Auto index's 3.92% fall in the same period.
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On the technical front, the stock's RSI (relative strength index) stood at 45.709. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
The stock was currently trading above its 50-day moving average (DMA) placed at Rs 1,082.13, but below its 200 DMA placed at Rs 1,347.85.
Force Motors' consolidated net profit tanked 89.5% to Rs 4.19 crore on 14.1% decline in net sales to Rs 755.15 crore in Q2 September 2019 over Q2 September 2018.
Force Motors is engaged in manufacturing light commercial vehicles and utility vehicles, and engines.
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